Import Export Code (IEC) registration is a mandatory registration required for businesses that engage in importing or exporting goods and services from India. Here are some of the benefits of IEC registration:
Legal Compliance: IEC registration ensures that your business complies with the legal requirements related to importing and exporting goods and services from India. It is a mandatory requirement for businesses engaged in import and export activities.
International Trade: IEC registration is essential for businesses that engage in international trade as it is a prerequisite for obtaining various licenses and certifications required for importing and exporting goods and services.
Easy Processing: IEC registration can be done online, which makes the entire process quick and easy. The application can be submitted through the DGFT website, and the certificate can be obtained within a few days.
Bank Transactions: IEC registration is required to receive money from foreign countries in your bank account for export transactions. The banks require IEC registration as a prerequisite for opening a current account for such transactions.
Government Benefits: IEC registration enables businesses to avail of various government benefits, such as subsidies, incentives, and schemes related to exports.
Legal Protection: IEC registration provides legal protection to your business in case of any legal disputes or issues related to importing and exporting goods and services.
Overall, IEC registration is essential for any business engaged in importing and exporting goods and services from India as it provides numerous benefits related to legal compliance, international trade, easy processing, bank transactions, government benefits, and legal protection.
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